Polymarket and Kalshi both set record daily trading volumes in their crypto categories on June 2.

On June 3, blockchain media outlet Cryptopolitan reported Polymarket recorded $176 million and Kalshi $108 million. (All times local.)

The new highs came on the same day the crypto market saw a sharp drop. More than $1.76 billion in leveraged positions were liquidated. Bitcoin fell below $67,000 for the first time since April 2, and total crypto market capitalisation fell by about $137 billion.

Kalshi exceeded $100 million in daily trading volume in its crypto category for the first time. It also surpassed its previous record set on March 16. Polymarket's $176 million was also a record, based on figures compiled by Artemis.

Overall prediction market trading also expanded. Total trading volume in May hit a monthly record of $28.4 billion, extending its rise to a fourth straight month. Kalshi accounted for about 61 percent of the total with $17.3 billion. Polymarket recorded $8.4 billion.

The gap between the platforms also widened. Kalshi topped $4 billion in weekly notional trading volume for the first time in the week ending May 17. Polymarket's trading volume that week was $2 billion. Kalshi said on X on June 3 it had started trading bitcoin perpetual futures. Kalshi described it as the first perpetual futures in the United States.

Polymarket lagged in trading volume share but had more locked capital. DefiLlama data showed total value locked of $535.58 million and open interest of $488.35 million. Active addresses over the past 24 hours topped 108,000, and cumulative trading volume combining Polygon-based activity and an offchain order book was $36.1 billion. Revenue over the past 30 days was $20.94 million and trading volume over the same period was $3.89 billion.

New entrants also emerged. Hyperliquid's HIP-4 launched outcome-based contracts on its mainnet on May 2. Dune Analytics data showed its trading volume so far is about 1 percent of Polymarket's. Active traders are about 500, and cumulative trades total 1,000,000. Total value locked across the prediction market category was tallied at $595.91 million.